Ted Baker grows revenue by 14.8%
Fashion brand Ted Baker grew its revenue by 14.8% in the 13 weeks to 12 November despite “challenging” trading conditions.
Retail sales for the period increased by 15.4% and by 6.7% in constant currency. Online sales climbed by 30.3% and accounted for 15.6% of total retail sales.
Average retail square footage rose by 8.8% to 383,330 square feet as the company continued its international expansion with store openings in Atlanta, Miami and Calgary. There were also several concession openings in premium department stores in China, Germany, Japan and Spain and relocations of stores in New York and Hong Kong.
Wholesale sales for the period increased by 13.2% following good performances from Ted Baker’s UK and North American businesses.
The company said it remains confident of making further progress for the full year but this will be dependent on trading during the important Christmas period.
Ray Kelvin, founder and chief executive, of Ted Baker said: “The brand continues to perform well despite challenging trading conditions and we remain focused on the long-term development of Ted Baker as a global lifestyle brand. Our continued growth and development reflects the strength of the brand, our business model and our unwavering focus on product quality and design, underpinned by the skill, innovation and passion of our teams globally.”
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